Cummins&Partners Sydney have won the creative account of online-based fintech startup, Lodex, also taking equity in the business, AdNews can reveal.
Lodex aims to flip the financial services industry on its head by shifting the negotiating power to the consumer and giving
financial service providers the chance to interact with potential customers.
Cummins&Partners is kicking off the pre-launch of Lodex with an ad campaign inviting registration, which will be followed by a full launch in August.
Creative agencies are increasingly exploring equity as an option for remuneration as traditional methods of revenue shrink.
“An agency’s IP is something that should be highly valued. It’s what defines us as an industry," Cummins&Partners co-ECD Julian Schreiber says.
"This approach, where we take equity in a business, in some ways is a better expression of the value we bring."
Cummins&Partners has been heavily involved from the very start with Lodex, including product development, brand strategy and design, UX and web design as well as the overall go-to-market strategy, including media planning and buying.
“Collaborating with startups to co-create businesses and brands in the tech space is energising and full of potential. It’s where we want to play more in the future," Cummins&Partners Sydney MD Dan Ingall says.
The 30-second pre-launch ad features a man bathing in money being served Champagne in front of the fire.
The voiceover says: “Some people say jump and financial providers and lenders say how high, lining up to give these powerful people great rates on loans and deposits.”
The ad then cuts to a younger male getting into the bath, aiming to show that Lodex will give everyone access to financial services.
Lodex syas it's is an "Australian-first loans and deposits marketplace that puts the power into the hands of the consumer".
"It's an agnostic exchange that allows financial services providers to come to you, the consumer, to compete for your loan or deposit," co-founder and executive director Mic Phillipou says.
Traditional banks are under attack from a number of specialist startups, unbundling the banking category and giving everyday Australians greater control of their funds. Recently former R/GA Jon Holloway entered the fintech market founding a superannuation startup.
Investment in Australia’s emerging fintechs increased from US$185 million across 23 deals in 2015 to US$656 million across 25 deals in 2016, according to a report in Business Insider.
Co-founders & Executive Directors: Mic Phillipou, Bill Kalpouzanis,
Agency: Cummins&Partners Sydney
Executive Creative Directors: Tom Martin & Julian Schreiber
Creative Directors: Mandie van der Merwe & Avish Gordhan
Art Director: Alastair Flack
Designer: Lorraine Costello
Senior Integration Director: Joe Godsell
Integrated Producer: Georgina Moxey
Managing Director: Dan Ingall
Production Company: The Sweet Shop
Director: Nick Kelly
Producer: Mo Duggan
Executive Producer: Wilf Sweetland
DOP: Sherwin Akbazadeh
Sound: Nylon Studios
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